A friend of mine dumped RCI Points (and I got his Points directory) over this very issue.
He had only been to Europe one time, to England, was in a position to travel and wanted to go. In fact, when he fell for the points spiel, the air tickets was one attractive part of it for him. The points required at that time for a summer ticket to Europe were actually quite a good deal.
He called many times to try to get points air tickets to Europe with absolutely no success. He started with a couple of cities, and expanded to anywhere but England, where he had already been. The time range he gave them was wide open for the whole summer. All they were able to offer was London on Continenal Airlines through the middle of June, and nothing at all for the rest of the summer. He asked when they could get tickets to scveral specific destinations and was told only November to March, which was low season.
I suggested grabbing the London ticket and using an LCC from there, but he was already so steamed with the ticket situation, he said he was just dumping points, and did.
Points was not a good deal for a low season ticket, but at that time, that seemed about all that was availible from RCI Points, other than London in shoulder season.
I don't know if availibility to Europe has improived since then. Maybe it has since they seem to have substantially increased the point levels for tickets.
I had tired to tell my friend he had made a mistake getting into Points, but he found out for himself with the European air tioket fiasco!